Juul plans to cut a third of its workforce- WSJ

(Reuters) – Juul Labs Inc is planning to cut around a third of its staff as the e-cigarette maker faces a relentless series of regulatory headaches and falling market share, the Wall Street Journal reported on Wednesday.

The cuts, which translate into between 800 and 950 people, are part of a broader restructuring plan and are not related to the novel coronavirus pandemic, the Journal reported here, citing a person familiar with the matter.

“As part of our ongoing reset, we are constantly evaluating our operations and the best way to position our company for the long,” a Juul spokesman said.

Last November, a company official told Reuters said Juul would cut around 650 jobs, or 16%, of its then 4,051-strong workforce as part of Chief Executive Officer K.C. Crosthwaite’s turnaround plan.

Source: Read Full Article

National Enquirer Publisher Is Cutting Employees’ Pay

American Media is the latest media outlet to announce cuts as the coronavirus has shaken the economy and the advertising market.

By Marc Tracy

American Media Inc., the publisher of The National Enquirer, Men’s Journal, Us Weekly and other titles, is cutting the pay of its employees by more than 20 percent, a spokesman said on Saturday, as the coronavirus has shaken the economy and the advertising market.

“American Media is committed to doing everything we can during the Covid-19 crisis to ensure our staff maintain their employment and health benefits,” the company said in a statement.

There have been no layoffs, the spokesman said.

The cuts, first reported on Saturday by The Daily Beast, are the latest instance of a media outlet looking to slim down as normally robust advertisers, like restaurants and travel businesses, shutter. Some alternative weeklies have laid off as much as three-quarters of their staffs. Last week, the digital giant BuzzFeed announced temporary payroll cuts.

Source: Read Full Article